Candover has completed the first round of fundraising for its latest fund with some €1.1bn ($940m) in commitments.

The UK private equity group plans by the end of the year to raise some €2.5bn for the fund, which focuses on leveraged buy-outs in high growth sectors. The first closing allows Candover, which has nearly fully committed the capital from its last fund raised in 1997, to begin making investments with the new cash.